In this episode, Holly Layton is joined by Alessandro Pesci and Friederike Gutjahr to discuss how reserving functions differ across Europe, and what trends and observations they have seen in their respective regions.
HOLLY LAYTON: Given what we've said, it feels like there is a lot of pressure and difficulty on reserving teams. So it feels like it's a no-brainer that people should be making changes and looking at automation.
SPEAKER: You're listening to "Rethinking Insurance," a podcast series from WTW, where we discuss the issues facing P&C, life, and composite insurers around the globe, as well as exploring the latest tools, techniques, and innovations that will help you rethink insurance.
“It feels like there is a lot of pressure and difficulty on reserving teams. So it feels like it's a no-brainer that people should be making changes and looking at automation”
Holly Layton Director, WTW
HOLLY LAYTON: Hi, and welcome to another episode of WTW's "Rethinking Insurance" podcast. My name is Holly Layton and I lead the reserve transformation proposition in the UK. I'll be hosting this session today to talk about how reserving functions are being transformed across the European market.
We're going to cover the challenges that reserving teams are facing, as well as transformations that are being made, to really unlock value from the reserving function. And we'll talk a little bit about how that differs across the market.
Our guests today are Frieda Gutjahr and Alessandro Pesci. Before we get started, could you both introduce yourselves? Alessandro.
ALESSANDRO PESCI: Yeah, my name is Alessandro, and I mainly focus on reserving stuff around Europe.
Holly is a Director within Insurance Consulting and Technology at WTW and leads the Reserve Transformation proposition in the UK. She has a wide range of experience leading reserve transformation work in the market, and specialises in designing and coding workflows to automate Actuarial processes.
Alessandro has gained 20 years of experience in the insurance sector working for one of the biggest European groups, and at WTW as a consultant. He recently re-joined WTW in 2022 as a subject matter expert for Reserving and Capital topics including Reinsurance, Solvency II and IFRS17.
Friederike is a member of the German Actuarial Society and has almost nine years of experience in actuarial consulting, specialising in reserve reviews and in implementation of automated reserving processes for non-life business.